Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have been named among Africa’s richest individuals in the 2025 Forbes Billionaires List.
Dangote retained his position as Africa’s richest man for the 14th consecutive year, with his net worth rising to $23.9 billion, up from $13.9 billion in 2024. The increase was attributed to Forbes factoring in the value of his refinery. His business empire spans cement, sugar, flour, salt, beverages, oil & gas, and fertiliser.
Adenuga, who runs the telecommunications giant Globacom, ranked fifth with a net worth of $6.8 billion, while Rabiu, owner of BUA Group, was valued at $5.1 billion.
Otedola emerged as the 16th richest person in Africa, with his wealth growing by over 30 per cent to reach $1.5 billion. His power company, Geregu Power Plc, saw its shares surge by about 40 per cent due to increased revenue and profits. He also serves as the Chairman of First Holdco Plc and is a major philanthropist supporting child welfare initiatives.
Forbes noted that Africa’s billionaires saw their combined fortunes rise to $105 billion, up from $82.4 billion last year. South Africa led the rankings with seven billionaires, followed by Nigeria and Egypt with four each.
